In Year of “Improbable” Events, Stock Rally Is A Valuation Fairy Tale

For valuation levels to remain consistent, equity risk premium paid to investors needs to move to 5.5%

This is the year of the improbable, a BCA Research piece points out. The United Kingdom voted to leave the European Union. Donald Trump is in fact the Republican presidential nominee and is close to Clinton in the polls. The unlikely underdog Leicester City soccer team won the English Premier League. Perenial loser Chicago Cubs remain…